UBC Media Group plc Interim Results

UBC Media Group plc Interim Results

UBC Media Group, the multimedia content and services company, reports its Interim Results for the six months ended 30 September 2011.

Operational highlights:

  • Good progress on key strategic goals; increasing digital video and lowering reliance on BBC
  • Revenue from digital video increases 43% to £0.4m (2010: £0.3m
  • Digital video content now 20% of turnover (2010: 13%);
  • BBC radio production now represents 41% of turnover (2010: 47%).
  • Online video from acquisition Lynx has been strong with a monthly average turnover of £45K
  • Revenues from mobile in Interactive division nearly doubled at £84K (2010 £46K)

Financial highlights:

  • Improved underlying operating loss of £0.3m (2010: £0.5m);
  • Reduced operating loss for the period from continuing operations of £0.5m (2010: £0.7m) due to savings on administrative expenses;
  • Group revenue £2.0m (2010: £2.1m);
  • Cash position Sept 2011 £3.8m (2010: £5.1m);
  • Interim Dividend announced 0.07 pence  (2010: 0.105 pence)

Simon Cole, Chef Executive, commented: "We continue the cautious approach following our disposal two years ago, gradually improving margins and re-aligning our core business whilst waiting for the economic climate to deliver us further acquisition opportunities at the right value.  The growth of our video production is particularly encouraging; we are benefitting from changed working practices in this area, which favour smaller and leaner production operations.   I am confident of a second half which will show further movement in these areas."

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